The "Cross of Gold" speech was:
A. against the gold standard and was given in 1896.
B. in favor of the gold standard and was given in 2008.
C. in favor of the gold standard and was given in 1896.
D. against the gold standard and was given in 2008.
Answer: A
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Imagine that you are an entrepreneur, making designer t-shirts in your garage. Your total cost (in dollars) is given by the equation TC = 300 + 10Q, where Q represents the number of t-shirts you make. If you make 1,000 t-shirts, your average total cost is ________.
A. $1.03 B. $3 C. $10.30 D. $3.10
To calculate a firm's per unit of output profit, it is necessary to subtract
a. price from cost per unit. b. price from resource costs. c. cost per unit from product price. d. cost per unit from cost of resources.
Assume a country produces only wine and cups. Both wine and cup production use land and labor as their only inputs. Wine production is relatively land-intensive while cup production is relatively labor-intensive. According to the Rybczynski theorem, a significant rise in immigration is most likely to lead to
A. an increase in wine production by a greater proportion than the increase in the production of cups. B. an increase in the production of cups by a greater proportion than the increase in the size of the labor force due to immigration. C. an increase in the production of both wine and cups. D. an increase in wine production by a greater proportion than the increase in the size of the labor force due to immigration.
Which of the following may transform an industry from oligopoly to monopolistic competition?
A. Acquisition B. Exit C. Entry D. Takeover